Lowy exits Deutsche Bank

Michel Lowy is likely to set up his own business after resigning as head of Deutsche Bank's distressed debt team in Asia.

Michel Lowy's departure from Deutsche Bank last week was friendly, say sources. Despite attractive inducements to stay at the bank's newly merged distressed debt and credit department, Lowy was keen to launch out independently, and he is likely to reappear running his own business in the second half of the year.

Lowy announced his resignation as head of distressed debt trading in Asia on March 23, following the apparent retirement of the global and European chiefs, Martin Dent and Julian...